The Business Times, 4 March 2016

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Total Pages: 32
1 32 The Business Times
  • 22 1 THE BUSINESS TIMES S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg @BusinessTimes CO REGN NO *****2868E MCI (P) 039/08/2015 GFriday, March 4, 2016
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  • Article, Illustration
    221 1 Foreign issuers are tapping the local debt market and the latest is Ford Motor Credit Company with its three-year Singapore dollar bond issue. The S$350 million bonds were priced on Thursday at 3.70 per cent, lower than the initial price guidance of 3.80 per cent. TOP STORIES 2
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  • 675 1  -  It suggests regulators urge banks to raise new equity rather than pare assets, and says emerging-market banks might need stronger buffers By Anthony Rowley btworld@sph.com.sg Tokyo BANKING crises tend to be quite frequent and costly, not only for bank depositors
    PHOTO: BLOOMBERG  -  675 words
  • 911 1  -  Issues come at a time when European investors diversifying away from govt bonds By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore TEMASEK Holdings and UOB have made fresh forays into the euro-de-nominated bond market in recent weeks, expanding their investor base into Europe and
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  • 27 1 Thursday Change STI 2,787.62 +60.66 KL COMP 1,688.20 -2.83 NIKKEI 225 16,960.16 +213.61 HANG SENG 19,941.76 -61.73 SHENZHEN B 1,131.49 -6.46 DOW (10.45 EST) 16,862.17 -37.15
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  • Page 1 Advertisements

  • TOP STORIES
    • 587 2  -  US company prices S$350 million bonds at 3.7 per cent following strong S$750 million demand By Siow Li Sen lisen@sph.com.sg @SiowLiSenBT Singapore FOREIGN issuers are tapping the local debt market and the latest is Ford Motor Credit Company with its three-year Singapore
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    • 565 2 Gains have pared Shanghai Composite Index’s losses this year to 19 per cent MARKET BOUNCE BLOOMBERG Shanghai CHINA’S stocks rose for a third day, led by property developers and commodity producers, on continued optimism that policymakers will unveil
      BLOOMBERG; PHOTO: AFP  -  565 words
    • 460 2 REUTERS London EMERGING stocks rose for the fifth day in a row on Thursday, their longest winning streak so far this year, and were on track for their biggest weekly gain since last October, while South African shares leapt to three-month highs.--MSCI’s emerging equity
      REUTERS  -  460 words
    • 802 2  -  By Neil Behrmann btworld@sph.com.sg Beijing INFLATED import invoices account for the bulk of China's capital outflows and this could lead to tighter controls. A paper by Deutsche Bank's China chief economist Zhang Zhiwei and colleague Zeng Li contends that the
      PHOTO: BLOOMBERG  -  802 words
    • 609 4  -  Cheques received for a sizeable number of the total 268 units; Indonesians make up big portion of potential buyers By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore CAPITALAND’S latest condominium project along Orchard Road, Cairnhill Nine, has seen strong interest, with cheques received for a sizeable
      PHOTO: CAPITALAND  -  609 words
    • 623 4  -  By Grace So graceso@sph.com.sg Singapore THE Business Times (BT) on Thursday clinched two awards for 2015 at probably the most boisterous, unorthodox English/Malay/Tamil Media (EMTM) Group Media Awards at Singapore Press Holdings (SPH) yet. BT’s Joyce Hooi won Commentary/Analysis of the
      PHOTO: EMNT AWARDS, FILE  -  623 words
    • 545 4  -  European business leaders also call for more engagement with private sector to meet Asean single-market goals By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore EUROPEAN business leaders are urging Asean member states to be more active in incorporating visions for
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    • 389 4  -  This is a 0.9 drop from Jan; output expansion at slowest since Oct 2015 By Soon Weilun soonwl@sph.com.sg @SoonWeilunBT Singapore BUSINESS conditions for Singapore’s private sector improved at a slower rate in February, with indicators pointing towards softening growth.
      Source: Markit  -  389 words
    • 695 6  -  Plan to tweak configuration of 5 incoming A380s next year by having fewer suites to better match demand By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore DEMAND for Singapore Airlines’ (SIA) premium seats is holding up but could take a hit in the
      PHOTOS: CHEW SENG KIM, DESMOND LIM/ THE STRAITS TIMES  -  695 words
    • 613 6  -  By huangjy@sph.com.sg Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore DELOITTE South-east Asia moves into a new chapter with the retirement of Chaly Mah, who will be succeeded by Philip Yuen, the current chief executive of Deloitte Singapore. The leadership change takes place on June 1. When
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    • 996 6 BLOOMBERG London FOR an industry that is losing money on almost every transaction, the world’s commodity shipping firms are remarkably busy grabbing any cargo they can get their hands on. From space, where satellites track ship movements, it all
      BLOOMBERG; PHOTO: REUTERS  -  996 words

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  • COMPANIES & MARKETS
    • 678 8  -  But more challenges lie ahead amid difficult commodity environment HOCK LOCK SIEW BY ANDREA SOH sandrea@sph.com.sg @AndreaSohBT NOBLE Group’s chief executive Yusuf Alireza is disdainful of talking about Iceberg Research. With the company’s recent move to impair the fair value of its long-term commodity
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    • 236 8  -  Change, which follows the March quarterly review, takes effect on March 21 By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore COME March 21, Noble Group will be removed from the Straits Times Index (STI), while CapitaLand Commercial Trust will be added, said FTSE Russell on
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    • 410 8  -  JARDINE GROUP By Kelly Tay kellytay@sph.com.sg @KellyTayBT Singapore DESPITE trying circumstances in its two key markets of China and Indonesia, Jardine Matheson Holdings reported a 5 per cent increase in net profit to US$1.8 billion for the year ended Dec 31,
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    • 526 8  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore HONGKONG Land Holding’s profit attributable to shareholders for the year was US$2,012 million, up 52 per cent compared to US$1,327 million a year ago. This takes into account the net non-trading gains of US$ 1,107
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    • 403 8  -  By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore ASIAN retailer Dairy Farm International Holdings on Thursday reported a near 17 per cent fall to US$424.4 million in profit attributable to shareholders for the year ended Dec 31, 2015. It cited the challenging retail environment.
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    • 380 9  -  By Jamie Lee leejamie@sph.com.sg @JamieLeeBT Singapore LH GROUP said on Thursday it plans to acquire real estate fund management company Pacific Star Development in a S$140 million reverse takeover (RTO) deal. Singapore-based Pacific Star has invested on behalf
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    • CORPORATE DIGEST
      • 164 9 SOFTER demand in Hong Kong and Paris put a dent in the earnings of hotelier Mandarin Oriental as full-year net profit for 2015 slid 8 per cent from the previous year to US$89.3 million. Revenue for the 12 months ended Dec 31 declined to US$607.3 million, nearly 11
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      • 73 9 MAINBOARD-LISTED Ryobi Kiso Holdings on Thursday said that it had secured S$33.3 million worth of contracts since Jan 1. Some of these contracts awarded for foundation and geoservices work include: Changi Airport, Terminal 5; HDB Sembawang N1 C12; HDB Tampines N6 C2A Park; Jurong Town Corporation estates
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      • 43 9 NOBLE Group has completed the sale of its remaining stake in Noble Agri, and received US$750 million for the transaction, the firm said in an exchange filing on Thursday. Noble has said that the proceeds will be used to repay debt.
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    • 560 9  -  Equity crowdfunding services allow SMEs and startups to seek investments from accredited investors By Jacquelyn Cheok jaccheok@sph.com.sg @JacCheokBT Singapore UOB has become the first Asian bank to partner an equity crowdfunding (ECF) operator to provide ECF services in Asia, through which SMEs and
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    • Article, Illustration
      62 10 STI Catalist Straits Times Index March 3,2016 2,787.62 +60.66 (+2.22%) Current streak 5 days Day high 2,787.62 Day low 2,735.42 52-week high 3,539.95 (Apr 15, 2015) 52-week low 2,532.70 (Jan 21,2016) FTSE ST Catalist index March 3,2016 452.57 +2.88 (+0.64%) Current streak 5 days Day high 454.90 Day low 449.62
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    • 646 10  -  Banks, Keppel Corp and Singtel contribute 36% of the entire market’s S$1.8b turnover STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THE Straits Times Index (STI) enjoyed one of the best days of recent years when it shot up 60.66 points or 2.2 per
      Source: Bloomberg  -  646 words
    • 312 10 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 241 +2 243/239 271 209 6.1 6330.4 CapitaLand 315 +8 316/308 379 267 12.6 2.9 *****.9 CapitaMall Trust 213 -3 216/210 228 184.5 5.3 7404 CityDev 776 cd +9 781/764 1095 661
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    • 36 10 VOLUME Ezra 178,243,600 Noble 165,796,300 Tech Oil Gas 103,821,700 Ezion 72,022,300 Loyz Energy 61,769,300 Market volume 2,205,907,000 VALUE DBS Grp 210,774,937 OCBC Bank 145,152,032 UOB 120,273,771 Singtel 116,605,357 JMH USD 96,551,397 Market value 1,844,053,000
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    • 108 10 Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 278 +4 978 280/275 355/254 278/279 IS MS INDIA US$ US632 +12 132 632/628 838/575 632/634 79 Nikko AM STI ETF 285 +6 72 285/281 361/259 283/285 6.9 DBXT MSRussia US$ US169 40 169/169
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    • 77 10 Mar 3 VALUE CLOSE BT OB/OS 424.00 -68.00 BT CADI -*****.00 +81.00 BT 10-day MA -*****.00 +42.00 FTSE ST Mid Cap 668.48 +7.06 FTSE ST Small Cap 391.60 +2.20 FTSE ST All Share 685.13 +11.73 FTSE ST China Top 158.39 +1.52 FTSE ST China 189.10 +0.44 FTSE
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    • 35 10 STI FTSE ST All-Share ftse ST All-Share index March 3,2016 685.13 +11.73 (+1.74%) Current streak 5 days Day high 685.13 Day low 675.56 52-week high 847.98 (Apr 15, 2015) 52-week low 625.37 (Jan 21, 2016)
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    • 33 10 STI MSCI EAFE MSCI EAFE index Mar 2,2016 1,595.68 +23.31 (+1.48%) Current streak 5 days Day high 1,601.83 Day low 1,572.71 52-week high 1,949.49 (May 15, 2015) 52-week low 1,492.43 (Feb 12, 2016)
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    • 186 10 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 10 2 3 1 0 0 11 2 3 Manufacturing 46 37 31 9 9 9 55 46 40 Commerce 18 14 12 5 5 6 23 19 18 Tpt/Stor/Comms 19 11 7
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    • 123 10 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 31,353 996 32,349 118,388 216 118,604 Manufacturing 278,156 102,694 380,850 181,788 5,392 187,180 Commerce 189,609 104,762 294,371 195,100 4,671 199,771 Tpt/Stor/Comms 358,125 3,612 361,737 271,354 311 271,665 Finance 61,668 130 61,798 507,045 18 507,063 Construction
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    • 77 10 BY CENTS CLOSE UP 52w high/low DBXT Nifty US$ ***** 824.7 5.6 *****/***** GLD US$ ***** 188.1 1.1 *****/***** DBXT MSEurope US$ 5122 186.7 2.7 6300/4770 DBXT MSKorea US$ 4949 117.0 1.7 6246/4478 DBXT MSTaiwan US$ 1943 101.7 3.9 2392/1667 BY PERCENTAGE CLOSE UP 52w high/low China Haida 2.4
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    • 74 10 BY CENTS CLOSE DOWN 52w high/low Jardine C&C 3900 -37.0 -0.9 4258/2636 Hyflux 6% CPS ***** -20.0 -0.2 *****/***** China Flexpack 84 -18.0 -17.6 420/36 Straits Trading 210 -13.0 -5.8 299/186 DBXT S&PShort US$ 2192 -11.1 -0.4 2393/2086 BY PERCENTAGE CLOSE DOWN 52w high/low Blumont 0.1 -50.0 -0.1 1.6/0.1
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    • 81 10 VOL CLOSE($) CHANGE ICP Ltd 15,886.0 0.008 +0.002 +33.33 Abundance Intl 160.1 0.035 +0.010 +40.00 ChinaKundaTech 204.0 0.021 +0.005 +31.25 VGO 41.4 0.060 -0.010 -14.29 Viking Offshore 13,770.5 0.046 +0.006 +15.00 Magnus Energy 46,984.0 0.004 +0.001 +33.33 Tech Oil Gas 103,821.7 0.163 +0.033 +25.39 Axcelasia 100.0 0.210 +0.047
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    • BROKERS' TAKE
      • 195 10 Target price: S$2.10 March 3 close: S$2.13 OCBC Investment Research, March 3 CapitaLand Mall Trust’s (CMT) share price has appreciated 11.9 per cent year-to-date, making it the top performing Singapore real estate investment trust (S-Reit). Its share price has also increased 15.2 per cent since we
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      • 73 10 Target price: S$8.28 March 3 close: S$7.54 Phillip Capital Research, March 3 SGX has submitted a non-binding bid for the acquisition of The Baltic Exchange. The discussions for this acquisition are still preliminary. The Baltic Exchange’s main source of revenue is from membership subscriptions and member access
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      • 198 10  -  Compiled by Kenneth Lim Target price: S$0.82 March 3 close: S$0.51 RHB Research, March 2 China EverBright Water (CEW) announced on Wednesday that it has clinched two new waste water treatment projects (Zhangqiu No 1 Plant and Zhangqiu No 2 Plant) from Zhangqiu’s municipal government. Both
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    • 379 11 CURRENCIES REUTERS Bangalore THE dollar will appreciate against major currencies in the coming months, a Reuters poll found, but not enough to make up for the losses incurred just before and since the Federal Reserve raised interest rates in December. Since December, investors have
      REUTERS  -  379 words
    • FOREX RATES
      • Article, Illustration
        2 11
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      • 471 11 Mar 3 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.983 4.786 0.673 5.687 49.217 96.862 0.834 8.886 3.020 1.095 76.608 34.437 1.019 11.418 0.730 24.093 25.981 0.519 0.731 Canada 1.017 4.869
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      • 2 11
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      • Article, Illustration
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      • 155 11 Mar 3 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.0186 1.0198 0.7312 0.7317 Canadian dollar 1.0365 1.0372 0.7442 0.7441 Euro 1.5139 1.5153 1.0868 1.0872 NZ dollar 0.9305 0.9318 0.6680 0.6685 Sterling pound 1.9643 1.9661 1.4101 1.4106
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      • 22 11 Mar 3 S$ Bid Offer 1-month 1.3937 1.3946 2-months 1.3947 1.3957 3-months 1.3957 1.3968 6-months 1.3985 1.3997 Source: OCBC
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      • Article, Illustration
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    • EQUITY BONDS WARRANTS FUTURES
      • 404 11 Mar 3 OPEN HIGH LOW SETT VOL OP/INT FTSE CHINA A50 INDEX FUTURES Mar16 9102.50 9162.50 9035.00 9125.00 *****1 *****5 Apr16 8992.50 9072.50 8960.00 9030.00 1626 1398 NIKKEI 225 INDEX FUTURES Mar16 *****.00 *****.00 *****.00 *****.00 ***** *****6 Jun16 *****.00 *****.00 *****.00 *****.00 5569 ***** MSCI TAIWAN
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      • 213 11 Most active Mar 3 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left KepCorp MB eCW*****2 12 1.9 7084 0.2 680 9 Rowsley Ltd W*****3 1.3 -0.1 6975 1 18 7 DBS MB eCW*****4 19.6 2.9 6840 0.1 1360 7
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      • 377 11 In local curr In S$ In US$ dy yr dy yr dy yr Mar 2 Index Change Change Change Change Change Change World Preliminary 1214.4 0.5 -5.0 0.3 -6.0 0.5 -4.8 EAFE Preliminary 940.3 1.4 -7.2 1.2 -8.3 1.5 -7.0 Europe Preliminary 1336.5 0.3 -5.4
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    • BANK RATES
      • 154 11 Mar 3 $S Offer Bid 0vernight 0.05 0.03 1-month 1.125 1.000 2-months 1.1875 1.0625 3-months 1.2500 1.1250 Overnight mode: 0.08 US$ Offer Bid 7 days 0.45 0.35 1 month 0.48 0.38 2 months 0.65 0.45 3 months 0.75 0.55 6 months 1.00 0.80 9 months 1.20 1.00 12
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      • 69 11 Mar 3 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year N*****0F 1.375 01-Oct-17 100.53 100.59 100.59 5-Year NX*****X 2.250 01-Jun-21 102.1 102.15 102.05 10-Year NX*****Z 2.375 01-Jun-25 101.19 101.35 101.00 15-Year NZ*****F 2.875 01-Sep-30 102.73 103.01 102.60 20-Year NZ*****V 3.375 01-Sep-33 109.23
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    • AGRI METALS ENERGY
      • 250 11 Mar-2 Price Net change change Last Trade Agricultural Mar-2 CBOT Soybeans (US cents/bu) 854.25 3.50 0.41% 14/03/2016 CBOT Soybean Oil (US cents/lb) 30.17 -0.15 -0.49% 14/03/2016 CBOT Wheat (US cents/bu) 442.75 4.25 0.97% 14/03/2016 Mar-2 LIFFE Cocoa (£/tonne) 2192.00 -6.00 -0.27% 14/03/2016 LIFFE Coffee (US$/tonne) 1358.00 16.00 1.19%
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    • 3206 12 NET PROFIT (S$M) TURNOVER (S$M) COMPANY CURRENT PREVIOUS CHNG CURRENT PREVIOUS CHNG 1 DBS Grp 4454.0 4046.0 10.1 *****.0 9816.0 11.3 2 OCBC Bank 3903.0 3842.0 1.6 8722.0 8340.0 4.6 3 UOB 3209.0 3249.0 -1.2 8048.0 7457.0 7.9 4 Keppel Corp 1524.6 1884.8 -19.1 *****.5
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    • 1843 13 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/Ep $mil Last vol Day Div GrYld 153 127 AIMSAMP Cap Reit 134 -2.5 377 136.5 134 1 8.3 851.4 MCap 175.5 101 ARA Asset Mgmt 113cd +2.5 874 114 111 1.7
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    • 284 13 52-Wk Last Vol Day Div GrYld Net MCap High Low Company Sale +/-(’000) High Low C’vr P/E Last Vol Day 4 1.7 t Acesian Partners 3 unch 169 3 2.9 4.1 10.5 1 0.3 t Advanced Systems 0.3 unch 200 0.3 0.3 7.9 Net MCap High LOW Company
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    • 119 13 52-Wk Last Vol Day Div GrYld Net MCap High Low Counter Sale +/-(’000) High Low C’vr P/E Counter Last Sale vol 4258 2355 DBXT China50 US$ US2620 4 2634 2620 7.2 High Day 1750 995 DBXT MSCHINA US$ US1114 +6 14 1114 1110 6246 4478 DBXT MSKorea US$
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  • Page 9 Advertisements
    • 358 9 the! mm PHNOM PENH, CAMBODIA The Gateway Luxury Development consists of Grade A offices, Condo Shopping Mall i i! 11 m n m I* 'i V rs •l f. I OFFICE TOWER (I !«i Ill Hill II I! ii« ii in in in, "“Nr* UM» i I 'sat II lli
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  • Page 13 Advertisements
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  • BANKING & FINANCE
  • Page 14 Advertisements
    • 85 14 At Oxley Road, swinging from the rail of an opentop van. There were many such vans parked in front of our house to bring Pa to meet the people in various parts of Singapore. With two brothers, the need to keep up with the boys was intense. I was probably
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    • 52 14 MY LAST DAY AS A SURGEON Excerpt from Dr Paul Kalanithi’s book When Breath Becomes Air. He was diagnosed with lung cancer in 2013 and died on March 9, last year INDIA’S BUDGET ANALYSED BY PwC SINGAPORE EXPERTS GET YOUR COPY TODAY TO ADVERTISE: CALL SHAN (*****861) KALWANT (*****327) OR
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  • Page 15 Advertisements
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  • ENERGY & COMMODITIES
    • 719 16 They are on 3-day stoppage to protest a one per cent excise duty on jewellery produced and sold within the country BLOOMBERG Mumbai INDIA’S thriving gold markets have gone strangely quiet. Shops are shuttered across the world’s largest consumer
      BLOOMBERG  -  719 words
    • 523 16 REUTERS Brasilia MINING company Samarco and its owners, BHP Billiton and Vale SA, reached a deal with the Brazilian government on Wednesday to pay an estimated 20 billion reais (S$7.2 billion) in damages over 15 years for a deadly dam spill
      REUTERS  -  523 words
    • 811 16 BLOOMBERG Oklahoma AUBREY McClendon, the one-time billionaire wildcatter whose meteoric rise and swift fall traced the arc of the shale revolution, died in a car crash in Oklahoma City on Wednesday morning. His death came less than a day after he was
      BLOOMBERG; PHOTOS: REUTERS  -  811 words
  • Page 16 Advertisements
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  • Page 17 Advertisements
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  • TECHNOLOGY
    • 496 18  -  Profits surge 54% year-on-year; 2016 likely to be more challenging, says AffinHwang Capital By Pauline Ng btworld@sph.com.sg Kuala Lumpur MALAYSIA’S technology companies saw positive earnings growth last year, both on an annual and quarterly basis, but for most, the expansion was
      496 words
    • 686 18 Forcing people to keep changing their passwords can result in them coming up with bad passwords WP Washington MOST office drones have had to deal with a job that requires them to keep changing their passwords like clockwork, maybe every
      WP  -  686 words
    • 460 18 REUTERS San Francisco ERIC Schmidt, the former chief executive officer of Google, will head a new Pentagon advisory board aimed at bringing Silicon Valley innovation and best practices to the US military, US Defence Secretary Ash Carter said on Wednesday. Mr Carter
      REUTERS; FILE PHOTO  -  460 words
    • 443 18 REUTERS Hong Kong MORE wealthy Chinese are ploughing money into technology start-ups which are increasingly seen as a safe haven as the slowing economy eases hopes of extracting returns from traditional investments such as stocks, property or gold.
      REUTERS  -  443 words
  • Page 18 Advertisements
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  • CONSUMER
    • 688 19 But investors are concerned the spending may become a permanent drag on profit BLOOMBERG Los Angeles MEDIA companies have settled on a strategy to combat declining viewership at their TV networks: spend, spend, spend. Discovery Communications Inc, Viacom
      BLOOMBERG; FILE PHOTO  -  688 words
    • 687 19 BLOOMBERG Hong Kong CHINA’S top brewer could start acquiring smaller competitors to cement its leading position in the Chinese beer market, after buying out venture partner SABMiller plc and taking full ownership of the world’s best-selling Snow beer. China Resources Beer
      BLOOMBERG; PHOTO: BLOOMBERG  -  687 words
  • Page 19 Advertisements
    • 684 19 NOTICES TOLL FREE 1800-289-8822 I Email notices@sph.com.sg I www.sphclass.com.sg/notices IN THE MATTER OF THE COMPANIES ACT ,CAP. 50 PURSUANT TO SECTION 290(2)(b) AND IN THE MATTER OF AAMOR PTE. LTD. (Company No: *****8583H) (In Members’ Voluntary Winding-up) By way of Shareholders’ Written Resolution dated 1st March 2016 the Special Resolutions
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    • 660 19 NOTICE OF MEMBERS' AND CREDITORS’ MEETING HOCK CHUAN ANN CONSTRUCTION PTE LTD (IN CREDITORS’VOLUNTARY LIQUIDATION) (“COMPANY”) INCORPORATED IN SINGAPORE REGISTRATION NO. *****0728M Notice is hereby given pursuant to Section 307(1) of the Companies Act (Cap.50) ("Companies Act”) that a meeting of members and creditors of the Company in the above
      660 words
    • 410 19 IN THE MATTER OF COMPANIES ACT CAP. 50 AND IN THE MATTER OF LAWSON ASIA PACIFIC HOLDINGS PTE. LTD. REG. NO. *****1629M (IN MEMBERS’ VOLUNTARY LIQUIDATION) NOTICE OF RESOLUTIONS [Pursuant to Section 290(2)(b)] At an Extraordinary General Meeting of the Company held on 29 February 2016, the following Resolutions were
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  • REAL ESTATE
    • 616 20  -  Same magnitude of rise seen in both mature, non-mature estates; but year-on-year prices still 0.6% lower By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore STRONGER signs of stabilising resale prices for Housing Development Board (HDB) flats were reflected in the latest flash estimates
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    • 135 20 REUTERS London THE risks in the housing market are rising but remain smaller than in 2014, Bank of England Deputy Governor Jon Cunliffe said on Wednesday. He also said the growth of the rapidly growing so-called“buy-to-let” rental property sector potentially
      REUTERS  -  135 words
    • 608 20  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore OCBC has sold eight shophouses and strata shop units for S$31.7 million within a year of putting up for sale a portfolio of 38 such properties islandwide. The latest transacted was a three-storey freehold
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    • 677 20 Foray into Hong Kong’s residential market is the first for billionaire who made fortune in electronics Hong Kong HONG KONG’s exclusive club of residential property developers will have to make room for a new entrant after billionaire Pan Sutong’s Goldin
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  • Page 20 Advertisements
    • 166 20 Luxurious Waterfront Bungalow At Sentosa Cove For Sale A posh double-storey bungalow with private berth 5 ensuite bedrooms Designed with spacious living and dining hall, ideal for entertaining Sweeping view with double frontage onto waterways Land Area: Approx.1,069.8 sq m Floor Area: Approx.1,152 sq m For further information, please contact
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  • Page 21 Advertisements
    • 293 21 D10 HOUSE FOR SALE BRIZAY PARK GCB 17,200sf. 2-sty. 6+1. Serene. Pool. Good plot. High grd. No long driveway. Serious seller. Keys on hand. Andy 9227 2638 D10 HOUSE FOR SALE CORONATION Detached at Coronation Good plot 5700 sqft. 4+1 study Prime locale. Library, pk 2 cars,s/pool Trudy *****773 D11
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    • 279 21 D10 APARTMENT FOR SALE WING ON LIFE GARDEN Freehold. 3305 sf. 4+1 ensuite. High floor. Panoramic view. Bright breezy. Split level living dining. Minutes walk to Newton MRT. Sale with tenancy. Call Dennis Tan *****282 ERA D19 APARTMENT FOR SALE TREASURE TROVE Brand new. 2bdrm from $850K. 2+study from $999K.
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    • 217 21 D10 APARTMENT FOR RENT THEOLIV 4+1 bdrm Duplex 3337/ 4467 sf; Penthouse 5339/ 6125 sf. 6m ceiling. Nice sky garden. Owner 8101 6699/ 9144 0027 D11 APARTMENT FOR RENT MULBERRY TREE CONDO 167 Moulmein Rd, S*****2. Penthouse 1270sf. F/furn, 2 rms duplex. Very near Novena MRT, Shpg Ctrs Tan Tock
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    • 229 21 D01 SHOP FOR RENT 90 EU TONG SEN STREET S.*****1. Next to Outram Chinatown MRT. 4670 sf. For Gym/ Yoga/ Pilates/ Martial Arts. Avail in March 2016. YKI 6848 4666 (24 hrs) www.yin-khing.com D03 SHOP FOR RENT 279 OUTRAM ROAD Brand new shop S*****6. 976sf Along main rd. Attached toilet
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  • GOVERNMENT & ECONOMY
    • 499 22 Beige Book notes that while wages generally increased since the start of the year, the growth was inconsistent BLOOMBERG Washington THE US economy continued to expand across most of the country, while wage growth was described as varying widely, “from flat
      BLOOMBERG; PHOTO: BLOOMBERG  -  499 words
    • 893 22 BLOOMBERG Frankfurt ONE week before a long-awaited stimulus decision, European Central Bank officials are privately deliberating over how to enhance their monetary policy stance without maiming its transmission. Committees studying how to mitigate the impact on banks have prepared potential
      BLOOMBERG  -  893 words
    • 850 23 British GDP now looks on track to expand by just 0.3% in the first quarter of 2016, according to Markit REUTERS BLOOMBERG London THE prospect of Britain voting to leave the European Union sent shivers through the boardrooms of
      REUTERS; BLOOMBERG; PHOTO: REUTERS  -  850 words
    • 293 23 REUTERS London EUROZONE businesses had their worst month in over a year in February which, coupled with further signs of deflationary pressures, is likely to solidify expectations for further monetary policy easing, a survey found. Markit’s final Composite Purchasing
      REUTERS  -  293 words
    • 368 23 REUTERS Athens GREECE cannot accept demands by the International Monetary Fund (IMF), one of its international creditors, to cut pensions further to achieve a primary surplus target in two years, its finance minister said on Thursday. Greece has proposed an overhaul of
      REUTERS; PHOTO: REUTERS  -  368 words
    • 423 23 LATEST US DATA REUTERS Washington NEW orders for US factory goods increased by the most in seven months in January, in another hopeful sign for the troubled manufacturing sector. The Commerce Department said on Thursday new orders for manufactured
      REUTERS  -  423 words
    • 590 23 REUTERS Padang ALL 22 of the early-warning buoys Indonesia deployed after the 2004 tsunami disaster were inoperable when a massive undersea earthquake struck off the coast on Wednesday, a National Disaster Mitigation Agency official said. The 7.8 magnitude quake did
      REUTERS  -  590 words
    • 281 23 Petaling Jaya MALAYSIA’s jailed opposition leader Anwar Ibrahim has declared support for his arch nemesis Mahathir Mohamad in his efforts to pressure Prime Minister Najib Razak to resign. “I support the position of friends in civil society, political parties and individuals including Tun Dr Mahathir,
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  • Page 22 Advertisements
    • 202 22 ST DBS 2016 YOUR TO A SUCCESSFUL CAREER WHY ATTEND STJobs Express 2016? U 6 A 6 P 4° Find out more about the wide array of jobs and internships on offer Come face-to-face with employers from the public and private sectors and learn more about their organisations Consult qualified
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  • TRANSPORT
    • 676 24 Low petrol prices lift demand for larger cars, but leave carmakers scrambling to make the vehicles more efficient to meet regulations without whittling their profit margins REUTERS Geneva CARMAKERS including Volkswagen’s premium brand Audi, luxury group Maserati and budget brand SEAT have
      REUTERS; PHOTOS: BLOOMBERG, TOYOTA  -  676 words
    • 377 24 REUTERS Jeddah SAUDI Arabia’s aviation regulator is in talks with government agencies to set up free zones in the Jeddah and Riyadh airports under a long-term plan to diversify the kingdom’s economy away from oil, its chairman told Reuters on Wednesday.
      REUTERS  -  377 words
    • 454 24 REUTERS Frankfurt VOLKSWAGEN’S former chief executive officer was alerted to problems with US diesel emissions tests in 2014, but the issue “did not initially receive particular attention at the management levels”, the German carmaker said on Wednesday. A memo
      REUTERS; PHOTO: AFP  -  454 words
    • 294 24 BLOOMBERG Washington PASSENGERS on commercial flights in the US won’t be allowed to use e-ciga-rettes under a regulation designed to protect people from the devices’ sec-ond-hand vapour. The Department of Transportation said it considers e-cigarettes to be equivalent to smoking,
      BLOOMBERG  -  294 words
    • 541 24 REUTERS New York TOP US airlines on Wednesday said they were seeking regulatory approval to start flying specific routes to Cuba, ramping up competition over a limited number of opportunities to serve one of the industry’s last frontiers. Dramatising their eagerness for
      REUTERS; PHOTO: REUTERS  -  541 words

  • Page 25 Advertisements
    • 1153 25 THE BUSINESS TIMES Shipping times MONTREAL 10 120 29/7 30/7 4/8 MONTREAL 10 120 29/7 30/7 4/8 EASTERN CAR LINER, LTD SPECIALIZE IN RORO HEAVY LIFT INTRA-ASIA SERVICE VOY Ramp(KT) Lifting(KT) SIN PKL KUC KK SUR JKT MAHO CORAL 001 60 15/3 17/3 21/3 TOYO PEARL 007 60 23/3 24/3
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    • 360 25 C a i l a n B r i s b a n e E n n o r e J e d d a h Shanghai Chittagong Ho Chi Minh H o n g J e b e l A i K o NYK RORO (ASIA) PTE. LTD. n
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    • 656 25 WALLENIUS WILHELMSEN LOGISTICS Tel: (65) 6379 5066 Fax: (65) 6379 5106 Email: 2wsinenq@2wglobal.com website: http://www.2wglobal.com AUSTRALIA NEW ZEALAND TO ASIA VESSEL VOY AKL BNE PKL MEL FRE SIN TALISMAN FF610 17/02 19/02 21/02 27/02 05/03 ENDURANCE FF611 23/02 27/02 01/03 03/03 08/03 15/03 FAUST FF613 08/03 12/03 14/03 16/03 21/03
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  • OPINION
    • 557 26 Clarity in US presidential race a positive for markets for now EDITORIAL AFTER Super Tuesday where US presidential candidates try to secure nominations from delegates from a large number of states the race for the White House this November has become clearer. The results have also coincided with a rally
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    • 817 26  -  THE BOTTOM LINE By Frank Ching T The writer is a Hong Kong-based journalist and commentator. Follow him on Twitter: @FrankChing1 THE recent visit of Chinese Foreign Minister Wang Yi to the United States illustrates the seemingly schizophrenic relationship between the two
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    • 1415 26  -  This boils down to having an entrepreneurial mindset and embracing failure, and is not just the government’s responsibility. BY GREG UNSWORTH AND LAWRENCE WONG SINGAPORE BUDGET 2016 BY GREG UNSWORTH AND LAWRENCE WONG T Greg Unsworth is PwC Singapore’s digital business leader. Lawrence wong is
      1,415 words
    • 929 27  -  COMMENTARY By Frank-Jürgen Richter T The writer is founder and chairman of Horasis, a global visions community. Horasis will host the inaugural Horasis Global Meeting in Liverpool on June 13-14. The Future of Energy is one of the main discussion topics
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    • 622 27  -  By Meghnad Desai T The writer is Emeritus Professor at the London School of Economics and Political Science. He is also chairman of the Advisory Board of the official Monetary and Financial Institutions Forum, an independent platform for dialogue and research on financial
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    • 1153 27  -  The current US presidential candidates are adopting famous past presidents as role models. But they, the Republican candidates in particular, do not fit the mould of their role models. BY HARISH MEHTA models.BY HARISH MEHTA T The writer is a historian who
      PHOTO: REUTERS  -  1,153 words


  • CITY LIFE
    • 772 28  -  Legendary film company Kodak is taking a leap into the digital age with an app to make hiring photographers a snap. BY AVANTI NIM snap.BY AVANTI NIM avantin@sph.com.sg FILM photography may be dead, but the company best associated with it has not taken it lying
      PHOTOS: KODAKIT  -  772 words
    • CITY BUZZ BT writers'picks of what to see, do or talk about
      • 161 28  -  DINING By Tay Suan Chiang SuperBrunch: Masquerade Carnival THE Ritz Carlton Millenia Singapore’s famed SuperBrunch returns, now that its buffet restaurant, Colony, is completed. For this edition, the hotel lobby, Colony and Chihuly Lounge will be transformed into a masquerade carnival. There will be the seven-metre-long seafood
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      • 141 28  - Dazzling Strings Tang Muhai and SCO CLASSICAL MUSIC By Helmi Yusof IN celebration of Singapore Chinese Orchestra’s 20th anniversary, the orchestra has invited the famous Chinese conductor Tang Muhai (right) the former chief conductor of the Queensland Symphony Orchestra and the Finnish National Opera to play with it on Saturday.
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      • 138 28  - I Write The Songs A Tribute To Barry Manilow POP MUSIC By Helmi Yusof YEARNING for music of the yesteryears? Here’s a concert for you: velvety-voiced crooner Robert Fernando (above) is back on stage to sing Barry Manilow’s illustrious songbook. Fernando was a fixture on local TV in the 1980s
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      • 235 28  -  DINING By Tan Teck Heng RESTAURANT Kaiseki Yoshiyuki is launching a one-week menu to celebrate Hinamatsuri (Girl’s Day or Doll’s Day). The Japanese festival falls on March 3, when families pray for the happiness and health of their daughters, complete with a tiered display of dolls
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      • 202 28  -  CONCERTS By Dylan Tan THERE is something for every music fan this coming weekend and the week ahead. The Singapore Jazz Festival (SingJazz) returns from Friday to Sunday with a host of international and local acts including Joss Stone, Candy Dulfer, Incognito, Level 42, Orquesta Buena
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      • 158 28  -  ARTS By The Cheah Ui-Hoon IT’S not every weekend that you get a fine art and furniture sale, and this weekend, you get both. One East Larasati (Hong Kong) has been appointed to manage the sale of a single private collection (Singapore/ Hong Kong) consisting
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  • Page 28 Advertisements

  • WINE/ARTS/ENTERTAINMENT
    • 719 29  - Wines nectars that force you to slow down and savour Dessert wines, in particular, being rich and sweet, demand to be enjoyed thoughtfully. BY NK YONG IN my previous column, I quoted from William Henry Davies: “We have no time to stand and stare”. While these words were written 105
      PHOTO: NK YONG  -  719 words
    • 716 29  - Revenge classic retold in grey instead of black white By Cheah Ui-Hoon uihoon@sph.com.sg IN traditional storytelling, you know exactly who the heroes and villains are. Such was the case in Savage Land, by China’s renowned modernist playwright Cao Yu, which was written 50 years ago. But in its current contemporary
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    • 529 29  - meetscircus show iD is back By Avanti Nim avantin@sph.com.sg GONE are the days when circus troupes relied on performing lions or elephants to bring the awe factor to their shows. Now, companies such as Cirque Eloize (pronounced “el-waz”) work consistently to keep their routines fresh to entertain audiences so they
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  • Page 29 Miscellaneous
    • 315 29 CRYPTIC CROSSWORD Across 1 Trees start to topple after shouts of warning (6) 4 Invariably left road after a second (6) 8 Good service, appropriate with one style of artwork (8) 10 Rub shoulders with vagrant pinching new book (6) 11 Assuming he expected to pack butter (4) 12 Getting
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  • ARTS
    • 596 30  -  Edith Podesta’s award-winning drama returns to the stage. stage.BY HELMI YUSOF helmi@sph.com.sg @HelmiBT THEATRE practitioner Edith Podesta was researching for another play when she chanced upon a letter that famous author Oscar Wilde wrote to Alfred Douglas while serving time in Reading Gaol
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    • 534 30  -  By Helmi Yusof helmi@sph.com.sg @HelmiBT IF you loved Sonny Liew’s best-selling graphic novel The Art of Charlie Chan Hock Chye, you can now own an original artwork from it. Liew is selling original comic pages from the novel for between S$200 and S$950 at
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    • 151 30  -  By Helmi Yusof BESIDES Dark Room, there are three plays and two works-in-progress at Esplanade’s The Studios 2016 season. We pick out the best: OPHELIA Experimental theatre director Natalie Hennedige is one of the most exciting talents in Singapore theatre. Her latest work Ophelia stars the
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    • 719 30  -  By Helmi Yusof helmi@sph.com.sg @HelmiBT THE Effect is a romance set in the world of the pharmaceutical industry. It offers a cocktail of emotions laughter, tears, fear and indignation. And though its ending is not altogether convincing, it is still the best
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  • CINEMA/COVER STORY
    • 606 31  -  As an in-depth exploration of Jesse Owens and his times, Race is an also-ran. BY GEOFFREY EU IT’S been 80 years since Jesse Owens single-handedly destroyed the myth of Aryan supremacy at the Berlin Olympics by winning four gold medals. Beyond those athletic
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    • 279 31  -  By Dylan Tan dylantan@sph.com.sg @DylanTanSYBT CROUCHING Tiger Hidden Dragon 2: Sword of Destiny has only been out for about a week but it’s already attracted a lot of flying daggers. The Netflix-exclusive sequel to Lee Ang’s poetically beautiful wuxia (sword fighting)
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    • 680 31  -  By Tay Suan Chiang THE annual Singapore Design Week, which runs from March 8 to 20, brings together a collection of local and international design activities. For a full list of events, see www.designsingapore.org/SDW. Here’s what not to miss. Design and Make Fair March
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    • 558 31  -  By Geoffrey Eu IF you think the fashion industry is tough, you haven’t tried the movie and movie sequel business. Just ask Ben Stiller, whose fashionista alter ego Derek Zoolander has been resurrected in Zoolander 2, a film that is woefully short
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  • BT Lifestyle
    • 838 32  - You REALLY wanna read this column Beware OFF THE CUFF Jaime Ee IF THERE’S a lesson to be learned from Madonna’s visit to Singapore, it’s this: you have to be very careful about who reads what you write. I might be a devoted dog person writing on a website that
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    • 1321 32  -  It does not matter if you are a member of the public, a designer or if you run a design business, there’s something for everyone at this year’s Singapore Design Week. BY TAY SUAN CHIANG Week.BY TAY SUAN CHIANG taysc@sph.com.sg @TaySuanChiangBT ARE you good with your
      PHOTO: BENE TAN FROM CAUSE & EFFECT  -  1,321 words
  • Page 32 Advertisements
    • 29 32 CINEMA This movie won’t be breaking any records/31 CITY LIFE BT writers’ picks of what to see, do or talk about/28 What’s on for Singapore Design Week, Page 31
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